Divorce

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debbielkrick 03-11-2013 @ 8:38 PM                          
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Joined: Mar 2013
I'm in the middle of a divorce and my husband and me are both on the mortgage deed if I take my name off of the deed am I still liable to pay anything.

JayChong 03-19-2013 @ 1:17 AM                          
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Joined: Aug 2012
Yes. There are only three ways to not be responsible for a mortgage payment after a divorce: sales, assumption, or re-fiance. Sales means the two of you agree to sell the home. Assumption means that the other spouse agrees to take on all responsibilities of payment, even though both names are still on the deed. Refinance means that the deed is rewritten, but this time without your name.

Please speak with an attorney for legal advice.

http://www.legalmatch.com/law-library/article/assuming-a-mortgage-laws.html

jamesvigil 03-30-2017 @ 3:15 AM                          
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Joined: Mar 2017
After your divorce you can pay mortgage in following possible ways.

If one partner goes out and wants off the action, the other partner is going to have to re-finance the home loan. Otherwise, if they keep the home loan in both names and one of them avoids spending, the other partner is responsible for per month home loan payment and delayed expenses.

The two alienated partners ongoing to cohabitate until the home sold and put them in a better financial condition for re-establishing themselves. But, this would be observed as a worst-case situation.
The one partner who stays at home and continues making home loan payments will get credit score for the principal paid prior to the selling of the home. The partner who moved out and rented will still get credit score for half of the proceeds of the selling.

A couple can also delay selling of the house until a specific date, with the idea that home price will increase. This will be part of the ultimate order from a court.

If you need legal advice from professional divorce lawyers in Phoenix you can call them at 602.266.0226.


This message was edited by jamesvigil on 3-30-17 @ 3:15 AM

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